OPRE 4320 EXAM 2 QUESTIONS WITH VERIFIED
ANSWERS
Correct 75
Incorrect 00
Your answers
1 of 75
Term
What is an MRP List?
Give this one a try later!
Is the posting of good issue transactions after a production confirmation is
received. The primary purpose is to reduce the number of financial accounting
transactions and possible financial discrepancies that may occur.
an online tool that allows a supply chain planner to quickly view materials with
supply chain issues. It is created at the end of a MRP run. It is static. That is, it
does not reflect any changes to demands or suppliers after the MRP planning
run.
The minimum lot size determines the minimum quantity, and the maximum lot size
determines the maximum quantity for the procurement proposal. When using
, rounding and min/max, SAP first determines the lot size using min/max then adjusts
it to comply with rounding requirements.
in this strategy, semi-finished and raw material inventories must be on hand prior to
the arrival of actual demand. However, finished product inventories are not planned
until demand arrives. The computer industry uses this strategy.
Don't know?
2 of 75
Term
What is Quantitative Forecasting?
Give this one a try later!
Based on historical data available in the company. Assumes what happened in the
past will happen in the future.
Push the inventory to a point in the supply chain in anticipation of demand then wait
until the customer orders to pull it to the customer. Computer manufacturers use
this method.
Involve either the projection of historical data or the development of
associative methods that attempt to use casual variables to make a forecast.
These techniques rely on hard data.
Measures the amount of seasonal variation of demand for a product. Example 1:
Summer is more aggressive because of better weather. Example 2: Spare parts
, need also have seasonal impact from weather.
Don't know?
3 of 75
Term
What are Extrinsic Techniques?
Give this one a try later!
Based on internal historical sales data Subjective methods relying on expert
and statistical trends within the opinions and qualitative market
company. research.
Based on external indicators. Is
Techniques that focus solely on the
useful in forecasting total
internal production capacity and lead
company demand or demand
times.
for families of products.
Don't know?
4 of 75
Term
What is Seasonality?
Give this one a try later!
, Uses a single previous value of a time series as the basis for a forecast. The forecast
a time period is equal to the previous time period's value. Can be used with: a stable
time series, seasonal variations, and trend.
Planning of requirement quantities and requirement dates for finished products and
important assemblies, and definition of the strategy for planning and producing or
procuring a particular finished product.
a time-ordered sequence of observations taken at regular time intervals. Assume
that future values of the time-series can be estimated from past values of time-
series.
Measures the amount of seasonal variation of demand for a product. Example
1: Summer is more aggressive because of better weather. Example 2: Spare
parts need also have seasonal impact from weather.
Don't know?
5 of 75
Term
What is a Time-Series?
Give this one a try later!
a random sequence of numbers generated by a computer algorithm.
ANSWERS
Correct 75
Incorrect 00
Your answers
1 of 75
Term
What is an MRP List?
Give this one a try later!
Is the posting of good issue transactions after a production confirmation is
received. The primary purpose is to reduce the number of financial accounting
transactions and possible financial discrepancies that may occur.
an online tool that allows a supply chain planner to quickly view materials with
supply chain issues. It is created at the end of a MRP run. It is static. That is, it
does not reflect any changes to demands or suppliers after the MRP planning
run.
The minimum lot size determines the minimum quantity, and the maximum lot size
determines the maximum quantity for the procurement proposal. When using
, rounding and min/max, SAP first determines the lot size using min/max then adjusts
it to comply with rounding requirements.
in this strategy, semi-finished and raw material inventories must be on hand prior to
the arrival of actual demand. However, finished product inventories are not planned
until demand arrives. The computer industry uses this strategy.
Don't know?
2 of 75
Term
What is Quantitative Forecasting?
Give this one a try later!
Based on historical data available in the company. Assumes what happened in the
past will happen in the future.
Push the inventory to a point in the supply chain in anticipation of demand then wait
until the customer orders to pull it to the customer. Computer manufacturers use
this method.
Involve either the projection of historical data or the development of
associative methods that attempt to use casual variables to make a forecast.
These techniques rely on hard data.
Measures the amount of seasonal variation of demand for a product. Example 1:
Summer is more aggressive because of better weather. Example 2: Spare parts
, need also have seasonal impact from weather.
Don't know?
3 of 75
Term
What are Extrinsic Techniques?
Give this one a try later!
Based on internal historical sales data Subjective methods relying on expert
and statistical trends within the opinions and qualitative market
company. research.
Based on external indicators. Is
Techniques that focus solely on the
useful in forecasting total
internal production capacity and lead
company demand or demand
times.
for families of products.
Don't know?
4 of 75
Term
What is Seasonality?
Give this one a try later!
, Uses a single previous value of a time series as the basis for a forecast. The forecast
a time period is equal to the previous time period's value. Can be used with: a stable
time series, seasonal variations, and trend.
Planning of requirement quantities and requirement dates for finished products and
important assemblies, and definition of the strategy for planning and producing or
procuring a particular finished product.
a time-ordered sequence of observations taken at regular time intervals. Assume
that future values of the time-series can be estimated from past values of time-
series.
Measures the amount of seasonal variation of demand for a product. Example
1: Summer is more aggressive because of better weather. Example 2: Spare
parts need also have seasonal impact from weather.
Don't know?
5 of 75
Term
What is a Time-Series?
Give this one a try later!
a random sequence of numbers generated by a computer algorithm.
